Southern Cross Acquisition II, a blank check company led by a Chinese media entrepreneur, lowered the proposed deal size for its upcoming IPO on Wednesday.
The New York, NY-based company now plans to raise $75 million by offering 7.5 million units at $10. The company had previously filed to offer 10 million units. At the revised terms, Southern Cross Acquisition II will raise 25% less in proceeds than previously anticipated.
Southern Cross Acquisition II is led by CEO and Chairwoman Ally Zhang, whose previous roles include serving as General Manager of Shanghai Stockstar and Director of Investor Relations at China Finance Online. Her other SPAC, Southern Cross Acquisition I (NCOOU), priced in July 2026 and is targeting businesses with industry leadership and revenue visibility. While it hasn't selected a target industry or geography, the SPAC plans to focus on businesses with defensible market positions and robust revenue growth, among other characteristics.
Southern Cross Acquisition II was founded in 2025. It plans to list on the Nasdaq under the symbol SCATU. D. Boral Capital is the sole bookrunner on the deal.
